7 Reasons Why Insurance Companies Need Call Tracking Software

7 Reasons Why Insurance Companies Need Call Tracking Software

For those who work in the insurance business, you only need to turn on the TV to see the colossal sums of money that insurance marketers pour into advertising. The largest brands spend hundreds of millions of dollars, or even over a billion, to get the word out.

While there are plenty of insurance providers covering life, home, auto, and other verticals that aren’t dropping millions, there is little doubt that it is an exceedingly competitive market. Additionally, insurance is an industry that puts great value into engagement with consumers. Earning people’s trust is paramount.

However, to keep up with this increased need for engagement and connectivity, insurance companies need to ensure they are at the top of their game regarding their marketing campaigns and interactions with consumers.

Every slight advantage can go a long way—and utilizing a market-leading call tracking platform can be a game-changer. So insurance professionals should take note.

Below are 7 benefits of call tracking for the insurance industry:

1. Insurance Call Tracking Gets Your Calls Answered Right Away

The specific nature of insurance—handling people’s private home, auto, or medical data—raises more significant data security concerns than selling t-shirts or microwaves.

Each year seems to bring a new round of data breaches that can push consumers away from entering their personal data into a website. Instead, they’d often rather share it over the phone.

With that comes a great need for insurance agencies to implement and adapt specific software or platforms to facilitate these client concerns, bridging the gap between lack of communication and

With so many people clicking and calling to inquire about insurance coverage, agencies must have exceptional inbound call tracking software.

But that’s not all. Receiving a call doesn’t mean the call is secured and the lead is converted. In fact, reports have shown that being on hold for just 28 seconds means a company risks losing business.

However, with call tracking platforms that utilize Interactive Voice Response to engage with clients and gather essential information about their call, customers can get their queries answered much quicker.

Based on the answers received, the IVR system then directs callers to the appropriate call representative. With inbound call tracking, insurance marketers can have more confidence in this essential part of their business.

Phonexa’s all-in-one marketing suite can back this for you in several ways:

Call Logic

A call tracking and distribution system helps keep your campaign logic focused with call attribution data and real-time call analytics. It is equipped with call analytics and tracking tools, as well as predictive modeling and voice recognition, to help you launch the best inbound and outbound call campaigns.

Cloud PBX

Cloud PBX allows companies to store all data related to inbound and outbound calls, faxes, and voicemails under the same platform within a cloud software that can be accessed from any point in the world, at any given time. In addition, with access to first and third-party data backing features like call and agent scoring, Phonexa’s Cloud PBX can back any call campaigns for insurance companies.

Together, Call Logic and Cloud PBX make a dynamic duo designed to cater to all inbound and outbound calls. They provide users with features like Interactive Voice Response (IVR), ping tree technology, and real-time reporting to ensure that your insurance call campaigns are accounted for.

2. Identify Your Successful Marketing Campaigns

As mentioned, insurance companies focus an incredible amount of time and resources on getting their name out in an overly saturated marketplace. With such an intense effort, businesses want to be confident they get the maximum impact from each marketing campaign.

Phonexa’s Call analytics software offers insurers all kinds of valuable data on their campaigns. For example, details regarding which demographic groups responded to your ads, which campaigns saw greater engagement, and the conversion rates are all provided within this feature.

3. Clearly Define And Improve Your Insurance Marketing ROI

Thanks to the campaign insights from call analytics, insurance companies get a much clearer picture regarding their response from money spent.

All incoming calls can be traced to a specific marketing channel with customizable phone numbers assigned to every campaign. This option provides extensive insight into which marketing channels perform best and which methods must be altered or eliminated.

This data also allows insurers to see which of their investments led to which calls and how these calls transpired in the end, giving the business the ability to measure the return on their investment (ROI).

4. Save Your Marketing Dollars By Getting Paid Search Insights

Perhaps much more so than other industries, insurance companies depend on paid search to generate leads. Consumers seeking insurance are likely to perform research when considering purchasing new insurance policies.

Insurance call tracking software is a fantastic resource for those taking advantage of Google Ads. It allows companies to track consumers who perform web-based searches but call for more information or communicate with insurance companies more privately.

With these hidden insights into paid search, companies can save thousands of dollars in marketing funds by knowing which keywords score higher or ideal for marketing investments.

In addition to Google Ads and triggered keywords, you can also use programs like Phonexa’s Lynx to track offers and traffic in real-time to measure the clicks, conversions, and calls for your campaigns.

5. Increase Your Conversion With Superior Customer Service

Insurance companies know that getting the attention of consumers is only part of the battle. Winning customers over and earning their trust is another significant task for businesses to achieve. In this capacity, insurance call recording becomes an invaluable tool for insurers.

With archived recordings of past interactions between customers and call agents, companies gain an enhanced customer experience perspective. Customer concerns will be articulated clearly, and any issues with service representatives can be quickly vetted. As customer service becomes even better, conversion can be expected to increase.

6. Optimize Your Marketing Campaigns In-Real-Time

Keeping up with an unpredictable insurance marketplace and the concerns of satisfying consumers can be a difficult task. What can be just as challenging is making adjustments to marketing campaigns without sufficient data.

Call tracking software eases that concern with real-time reporting; insurance marketers can measure the success of campaigns as changes take place. Updated numbers are displayed to allow businesses to adjust campaign spending on the fly. With instant optimization, insurers will have the necessary tools to handle any uncertain market fluctuations that may come up.

7. Control Every Business Aspect With An All-In-One Marketing Platform

For insurance marketers engaging in multiple campaigns across different mediums, the convenience of an all-in-one platform for marketing automation is unbeatable and impossible to ignore.

An all-in-one platform puts calls, leads, clicks, email, SMS, and accounting at the forefront of your company’s marketing initiatives, giving advertisers complete control over every aspect of their marketing campaigns.

With this type of insurance marketing bandwidth, insurance agencies can feel more confident to engage in a competitive and unpredictable marketplace by utilizing all of the cutting-edge technologies and features of an all-in-one marketing solution.

Complete digitization of the insurance industry is very near, which means insurance retailers need to be ready to dive neck-deep into the new digital revolution.

Schedule a consultation to learn more about how Phonexa’s all-in-one suite can supplement your insurance agency’s call tracking initiatives. 

Mark Kosin was a Content Writer at Phonexa, covering topics such as SaaS technology, call tracking, lead generation, and digital marketing.

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